Business

LTFRB sets probe into Uber data breach

LTFRB sets probe into Uber data breach

November 29, 2017, 7:52 pm

MANILA -- The Land Transportation Franchising and Regulatory Board (LTFRB) will conduct its investigation on the data breach involving personal data of users of ridesharing firm Uber in the Philippines. This comes following the admission of Uber that information of Filipinos were exposed in a… Read More

UCPB branches closed on Bonifacio Day

UCPB branches closed on Bonifacio Day

November 29, 2017, 3:40 pm

MANILA -- All branches of UCPB nationwide will be closed on Thursday in commemoration of Bonifacio Day. In an advisory, the bank, however, assured its clients that its electronic banking channels, namely UCPB Connect, the mobile banking system, the online banking and the automated teller machines… Read More

BSP sees higher power rates, 2.9-3.6% inflation in November

BSP sees higher power rates, 2.9-3.6% inflation in November

November 29, 2017, 2:55 pm

MANILA -- Sustained uptick in oil prices is seen to result in further price increases this November at a range of 2.9 to 3.6 percent, the central bank estimated Wednesday. In a statement, the Bangko Sentral ng Pilipinas (BSP) said it’s Department of Economic Research has considered the higher… Read More

BFAR crafts plan to develop eel industry

BFAR crafts plan to develop eel industry

November 29, 2017, 10:26 am

TUGUEGARAO CITY, Cagayan -- Technical experts from the Bureau of Fisheries and Aquatic Resources (BFAR)  and other concerned agencies met here Monday to formulate a plan to develop the country's eel industry. National Eel Focal Person, Dr. Evelyn Ame, concurrent chief of the Training Division of… Read More

Biz optimism up for Q4 ‘17

Biz optimism up for Q4 ‘17

November 29, 2017, 8:40 am

MANILA -- Optimism of Filipino businessmen for the fourth quarter of 2017 rose to 43.3 percent from quarter-ago’s 37.9 percent due in part to the expected brisk business during the holiday season. Results of Business Expectations Survey (BES) done by the Bangko Sentral ng Pilipinas (BSP) from… Read More

5 industries push for single ID system

5 industries push for single ID system

November 29, 2017, 8:38 am

MANILA -- Five industries are pushing for various regulations, including implementing single business identification (ID) system, in a bid to make it easier to do business in the country. These are chemicals, housing, logistics, power and public transportation industries which are participating in… Read More

Cebu Landmasters eyes P1.7-B profit in 2018

Cebu Landmasters eyes P1.7-B profit in 2018

November 29, 2017, 8:36 am

MANILA -- Listed property developer Cebu Landmasters Inc. (CLI) aims to hit PHP1.7- billion profit by 2018, about 42 percent higher than this year’s projected level, as it launches more projects in the Visayas and Mindanao. In a briefing, Jose Franco Soberano, CLI Senior Vice President and Chief… Read More

BOI approves P1.13-B tourism projects

BOI approves P1.13-B tourism projects

November 29, 2017, 7:17 am

MANILA -- The Board of Investments (BOI) has approved three tourism projects worth PHP1.13 billion. Hotel and resort projects of Ayala Land Hotels and Resorts Corp., UC-1 Corp., and 888 Subic, Inc. got BOI's nod under Special Law List on Tourism Facilities in the 2017 Investment Priorities Plan… Read More

Uber admits personal info of Filipinos exposed in data breach

Uber admits personal info of Filipinos exposed in data breach

November 28, 2017, 5:50 pm

MANILA -- Ridesharing firm Uber has confirmed that the personal information of Filipinos had been exposed in a massive data breach involving 57 million users worldwide dating back to October 2016. In a statement Tuesday, the National Privacy Commission (NPC) warned that Uber may face serious… Read More

Gov't agencies required to report quarterly cash program by 2018

Gov't agencies required to report quarterly cash program by 2018

November 28, 2017, 3:28 pm

MANILA -- Government agencies with highest expenditures will be required to submit their cash program every three months starting next year. Under the cash forecasting initiative of the government, the Quarterly Cash Program Report (QCPR) will kick off by 2018, requiring top 10 spenders in the… Read More

Estate tax tops proposed tax amnesty program: DOF

Estate tax tops proposed tax amnesty program: DOF

November 28, 2017, 2:22 pm

MANILA -- Any tax amnesty measure of the Duterte government, eyed for implementation in 2018, will start with estate taxes. Department of Finance (DOF) Secretary Carlos Dominguez III said he agrees with Budget Secretary Benjamin Diokno’s timeline of tax amnesty implementation next year but… Read More

PH still a sweet spot for investors

PH still a sweet spot for investors

November 27, 2017, 8:31 pm

MANILA --The Philippines remains a sweet spot for investors,  government officials and company executives said during the Euromoney Philippine Investment Forum Monday. Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. said the country is still an attractive investment destination… Read More

Infra, education key to realize PH growth potential

Infra, education key to realize PH growth potential

November 27, 2017, 7:35 pm

MANILA -- Accelerating investment in education and infrastructure could boost the Philippines' economic growth and realize its full potential.     Edwin Bautista, president and chief executive officer at UnionBank of the Philippines, cited result of an earlier study released by professional… Read More

Peso surges vs. USD; PSEi down

Peso surges vs. USD; PSEi down

November 27, 2017, 6:59 pm

MANILA - - Latest Senate discussion on the proposed tax reforms boosted the Philippine peso Monday while some profit-taking led the main stocks gauge to dip slightly. The peso finished the day at 50.51 from 50.72 Friday last week, which a trader traced to the weakness of the US dollar over… Read More

SEC OKs Puregold merger with 3 grocery chains

SEC OKs Puregold merger with 3 grocery chains

November 27, 2017, 6:31 pm

MANILA -- The Securities and Exchange Commission (SEC) has approved the merger between listed supermarket chain operator Puregold Price Club Inc and three acquired grocery chains .    The SEC on Friday issued the certificate of merger of Puregold with Daily Commodities, Inc. First Lane Super… Read More

Diesel, kerosene prices up on Tuesday; gasoline stable

Diesel, kerosene prices up on Tuesday; gasoline stable

November 27, 2017, 6:25 pm

MANILA -- Prices of diesel and kerosene are set to go up by 35 centavos per liter and 25 centavos per liter, respectively, on Tuesday. Flying V announced that it will implement the new prices for its bio-diesel and kerosene effective 12:01 a.m. on November 28. Shell, Unioil Petroleum Philippines,… Read More

PH firms keen to adopt inclusive business models

PH firms keen to adopt inclusive business models

November 27, 2017, 4:35 pm

MANILA -- Enterprises operating in the country still have low awareness on inclusive business (IB) but remain keen to adopt the model, based on a study conducted by the Board of Investments and the United Nations Development Programme's Istanbul International Center for Private Sector in… Read More

Gov't eyes special council for PAGCOR privatization

Gov't eyes special council for PAGCOR privatization

November 27, 2017, 1:59 pm

MANILA -- A specialized council is set to be formed for the privatization of Philippine Amusement and Gaming Corporation (PAGCOR), which will push through after the issuance of an Executive Order (EO). Finance Secretary Carlos Dominguez III told reporters that the privatization of the… Read More

Vietnamese firms visiting PH this week

Vietnamese firms visiting PH this week

November 27, 2017, 12:07 pm

MANILA -- Fifteen Vietnamese companies are visiting the Philippines this week to explore business opportunities. The business delegation will be led by Ministry of Industry and Trade of Vietnam (MOIT) Deputy Director General for Department of Asia-Africa Markets Do Quoc Hung. The Vietnamese firms… Read More

Chinese firm launches Star Wars Stormtrooper robots in PH

Chinese firm launches Star Wars Stormtrooper robots in PH

November 26, 2017, 3:58 pm

MANILA -- UBTech Robotics has launched Sunday at the SM Mall of Asia the Star Wars First Order Stormtrooper robots in the Philippine market. UBTech's Stormtrooper robots will be available in the Philippine market next month through its exclusive distributor here, Banbros Commercial, Inc. Banbros… Read More